Keeping Christians of all denomination in Malaysia informed of events happening in the country affecting the Christian faith and other political issues. Encouraging Christians to get more involved in politics so His will be done on earth as it is in heaven.

Monday, 3 December 2012

Umno's Ponzi scheme

Malaysians need not fear that we will become like Afghanistan because Afghanistan has learnt from us and has become like us.

A New York Times
report headlined ‘Audit says Kabul Bank began as Ponzi scheme’ bears a striking resemblance to the way Umno runs this country.

Investigators
have claimed that the Kabul Bank has been fraudulently obtaining
hundreds of millions of dollars and siphoning it off to a few
individuals connected to President Hamid Karzai (left).

The
war-torn country is trying to get to grips with the concepts of western
democracy and banking, but public trust and confidence in the
government has been shattered by the revelations of crony capitalism and
corruption on a massive scale.

Governments around the world are
shocked at the Kabul Bank scandal but are turning a blind eye to similar
events in Malaysia, where institutions routinely siphon off money to
Umno and its cronies.

An audit by the Kroll investigative firm
has revealed that the Kabul Bank’s financial duplicity was mired in
controversy and cover up. There was a political conspiracy involving
those at the very top of government to stall the investigations.

This
is no different from Malaysia. Recent cases are the political
interference concerning Tajuddin Ramli’s involvement in the Malaysia
Airlines scandal, the Sabah Umno and Michael Chia fiasco and the
National Feedlot Corporation case.

The Kroll report also
revealed that official stamps had been issued to fake companies so that
forged papers could be made to look legitimate. The bank kept two sets
of books to dupe auditors and loans were issued in the names of the
owner’s friends, relatives and even domestic servants.

Sherkhan
Farnood, the bank’s founder and chairperson, stashed the loot in Dubai.
It is also claimed that money was smuggled out of Kabul via an airline
belonging to shareholders linked to the bank. Kharzai’s brothers, who
were implicated, have claimed innocence and escaped prosecution. No one
appears accountable or has taken responsibility for the alleged fraud.

Last
week, Umno held its 66th general assembly.
It was laced with theatrics,
its members reduced to tears by a song, and a former premier wielded
more influence than the incumbent. All these are signs that the country,
not just the party, is in trouble.

The way Umno operates is
similar to a Ponzi scheme but instead of making a financial
contribution, Malaysians have had to pawn their livelihood and their
children’s future, just to keep people at the top of the scheme in power
and wealth.

Charles Ponzi, Bernie Madoff, and Kautilya Pruthi,
the British equivalent of Madoff, had conned people out of their life
savings but were eventually caught and jailed. In what is known as a
Ponzi scheme, people were lured into investing their hard-earned cash
with con merchants who offered them in the short-term, higher returns
than any other investments could provide.

Change from within

Umno’s
Ponzi scheme is destined to fail. With the increase in Umno warlords,
greater demands are exerted on the kitty, which is financed by the
taxpayer. Those who are more senior in Umno want a greater share. The
VVIPs and their children have to be appeased. The fickle-minded,
untrustworthy party ‘frogs’ also need feeding.

An Umno member
would find willing victims to become party members, force them to swear
allegiance to be a true member and get them to find fresh recruits.

Like
any pyramid scheme, only those at the top of the pyramid reap the
benefits. For instance, Umno divisional heads are given incentives to
keep them happy. It is alleged that they can demand government projects
of a certain fiscal value, to pass on to their cronies and members.

In some cases, divisional heads are alleged to be given hundreds if not thousands of taxi permits as inducement.
With
each taxi driver being obliged to pay about RM30 to the company per
day, it is not difficult to work out how many millions of ringgit some
people can make per month.

Why does Kuala Lumpur need 35,000
taxi drivers? When there is a glut of drivers, there is depressed income
from fares and more drivers sinking into debt.

The Ponzi-type
scheme Umno operates also uses religion and affirmative action policies
to keep the Malays under control, but Malays need to understand one
thing - they do not owe the government a living.

A student on a
Mara loan or scholarship should be beholden to the taxpayer for funding
his studies. When the government is guilty of corruption or injustice,
the student should not keep quiet because he thinks he is beholden to
the government for his education. He is not.

Sadly,
many Malays refrain from criticising the government because they feel
indebted to the government when in truth, they should be grateful to the
taxpayer. The Malays know that Umno does not represent them, but they
have been brainwashed to keep silent, with tiny inducements and the fear
of God to keep them in check.

The government should give every
Malaysian child a decent standard of education and equal opportunities,
but even the privileged are cheated.

The method with which Umno
rules the country dwarfs the Kabul Bank Ponzi scheme. The west does not
give a damn what happens in Malaysia just as Umno does not care at all
what it is doing to Malaysians.

The west wants to please the
government so that the Employees Provident Fund can continue to buy up
properties abroad, a refugee swap deal can proceed smoothly, Malaysian
taxpayers can purchase the latest weaponry or that a rare-earths
refining plant can be built.

The rakyat cannot rely on the west for help, so any changes have to come from within Malaysia.

1 comment:

Hi there, i stumbled upon this page after watching this documentary "Jatuh" and was trying to find out more about the people behind these videos who are actively fighting the good fight against wrongdoings in the political scene.

I think this is a wonderful blog, and as a Christian myself, i am also praying for the country.

Although I'm malaysian, i've lived overseas for many years and many a times feel detached but yet, reading news about Malaysia still strikes a chord in my heart.

Thank you for writing this blog! please keep up the fantastic work and may God bless your work.

About Me

1Christians Malaysia is a Christian NGO with the aim of uniting Malaysian Christians of all denomination into 1 Body of Christ. Christians must be united so that we can speak in 1 strong voice to protect our rights as stated in our federal constitution. We must work and pray together so that His Will be done on earth as it is in heaven.